Coinbase, a renowned crypto exchange, has secured final approval from the US Office of the Comptroller of the Currency (OCC) for its national trust bank charter. This approval will allow the exchange to operate as a federally chartered trust bank. The approval moves the application beyond the conditional status granted in April 2026. It now provides a federal regulatory framework for its crypto custody and related services.

Coinbase Trust Bank to Focus on Custody and Payments

The newly authorized Coinbase National Trust Company will focus primarily on fiduciary activities. This will include digital asset custody and safekeeping. Additionally, it will provide payments services too. However, the charter does not allow Coinbase to accept traditional retail deposits or issue loans like conventional commercial bank.

The approval adds a federal layer to Coinbase’s existing regulatory framework. The company will retain its New York state trust charter and BitLicense. According to OCC records, Coinbase submitted its de novo charter application in October 2025. The regulator granted preliminary conditional approval on April 2, 2026. under Corporate Decision No. 1370.

Coinbase Joins Growing List of Crypto Firms Seeking Federal Oversight

The approval comes as several cryptocurrency exchanges pursue federal trust bank charters to expand operations. Some other crypto companies, including Ripple, have also secured federal trust charter approvals. The trend has gained momentum following the passage of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This act has established a federal framework for payments, stablecoin issuance and related activities.

For Coinbase, the national trust bank status will strengthen its institutional custody services. It will also help in expansion of payments services. It may also provide institutional clients with an additional federally regulated custody option.

It is pertinent to clarify that the charter does not make Coinbase a conventional commercial bank. Instead, Coinbase will operate within the specific activities authorized under its trust charter. Moreover, it will  remain subject to ongoing OCC supervision.